The plant growth regulators market is estimated to be valued at USD 1.6 Billion in 2015. The market is projected to grow at a CAGR of 3.6% from 2015 to 2020. The global market is segmented on the basis of its types and crop types. It is further segmented on the basis of regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). With the increasing environmental regulation and pesticide residue level monitoring, the entry of seaweed-based plant growth regulators is expected to enhance the market growth.

This report includes estimations of market sizes for value (USD million) and volume (KT). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global plant growth regulators market and to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

This report provides both, qualitative and quantitative analyses of the plant growth regulators market, the competitive landscape, and the preferred development strategies of key players. The key players preferred new product development, joint ventures, agreements, expansions, and acquisitions as preferred strategies to gain a larger share in the market. The report also analyzes the market dynamics and issues faced by leading players.

The report is targeted towards the existing players in the industry, which include chemical manufacturers, agrochemical manufacturers, fruit growers associations, seaweed extractors, biostimulant manufacturers, and research institutions. Key participants in the supply chain of plant growth regulator are raw material suppliers, government bodies, distributors, agro-commodity exporters related to fruits & vegetables, and end users such as farmer cooperatives and associations.

The plant growth regulators market is projected to grow at a CAGR of 3.6% from 2015 to reach a projected value of USD 1.91 Billion by 2020. The market growth is driven by growing customer attention towards enhancing the premium value of fruits, vegetables, ornamentals and other permanent crops. The market is further driven by factors such as technology and product development of innovative plant growth regulators that can be cost-effective as well as used on a wide range of crops.

Depending upon crop types, the global market is led by the fruits & vegetables segment, followed by oilseeds & pulses and cereals & grains. These are used on a large scale in regions where there is extensive production and cultivation of fruits & vegetables.

Among the types of plant growth regulators, such as auxins, cytokinins, gibberellins, and others, gibberellins accounted for the largest market share, followed by cytokinins and auxins. Gibberellins are used on a large scale in regions where there is an extensive production and cultivation of fruits & vegetables.

Europe accounted for the largest market share for plant growth regulators, followed by North America and Asia-Pacific. Crops such as cereals, oilseeds, vegetables, and orchard crops are among the widely produced crops in this region; high yield of crops have been realized by increased application of plant growth regulator products. The Asia-Pacific region is projected to be the fastest-growing market with investments from several multinational manufacturers, especially in countries such as China, New Zealand, and Japan.

The regulatory clauses to identify plant growth regulators as a pesticide have reduced manufacturer’s efficiency to manage production costs due to the long period for regulatory approval and the related expenditures associated with research activities. The high production cost affects the final product price and reduces the consumer’s crop margin.

The key market players that dominated the global market include FMC Corporation (U.S.), Syngenta AG (Switzerland), The Dow Chemical Company (U.S.), BASF SE (Germany), and Nufarm Limited (Australia). Most key participants have been exploring new regions through new product launches across the globe to avail a competitive advantage through combined synergies. Since 2011, the plant growth regulators market has witnessed an increase in demand, especially in developing nations such as India, China, Brazil, and Mexico.

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